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Seattle Condo Blog | Urban LivingFri, 16 Mar 2018 17:28:07 +0000en-UShourly1https://wordpress.org/?v=4.9.4http://www.urbancondospaces.com/wp-content/blogs.dir/1/files/2017/05/cropped-Large-Logo_UCS-32x32.pngUrbanCondoSpaceshttp://www.urbancondospaces.com
3232Tour A Killer Seattle Loft With Jeff, Fix Madore Unit 604http://www.urbancondospaces.com/tour-a-killer-seattle-loft-with-jeff/
http://www.urbancondospaces.com/tour-a-killer-seattle-loft-with-jeff/#respondFri, 16 Mar 2018 16:00:04 +0000http://www.urbancondospaces.com/?p=19128Tour A Killer Seattle Loft With Jeff, Fix Madore Unit 604 Hey guys, when this loft hit the market this week, I knew I had to put together a video tour. It is an great opportunity for any of you looking for a unique space. The address is 1507 Western Ave #604. The Fix Madore Building […]

The Fix Madore Building sits right below Pike Place Market. Built in 1910 and renovated to condos in 1978, the building has a ton of history. It is now home to 32 units on 6 floors.

This particular loft (604) is on the top floor with nearly 14 foot ceilings. As you’ll see in the video, it has a spiral staircase and lofted bedroom. I love the exposed brick, the timber beam ceilings and the proximity to Pike Place Market.

This is one of the rare opportunities to own an affordable Seattle Loft just a minute away from the market. You could probably imagine how great it would be to get your everyday groceries and other goods right outside your door. One of my favorite stores in the city is just a block away. It’s called the Paris Madrid Grocery. For those of you that know me, Spanish food is one of my favorite things to cook in the world. Check out the Paris Madrid Grocery the next time you are near the market. You won’t regret it.

Back to this killer loft. This is a total win in my opinion. Cool interiors, awesome location and reasonable dues. They are $671 per month, but you would gladly pay them if you saw this space. Lofts like this in Seattle don’t hit the market very often. We highlighted a few in Pioneer Square this year, but to find one near Pike Place Market is rare. We created a list of Popular Seattle Lofts last year. You can also check out the Youtube channel if you want to see a few of the other tours that featured Seattle lofts as well.

We had a private tour of Millennium Tower in Downtown Seattle on Friday – unit 1904, asking $2,800,000.

Our friend and listing agent Rondi Egenes, gave us access to show you guys around. See the video for a room by room tour of this incredible 2,304sf unit in the heart of Downtown Seattle. I thought you guys would enjoy a look at this luxury condo – as it is an original owner from the year the project was built (2000) They finished the buildout of the unit in 2005-2006.

INTERIORS

The interior finishes are nice. The include honed Petra Del Cardosa Limestone. Limestone floors, beautiful custom cabinetry and a wall of windows. Given that it is a corner unit, you’ll see the tremendous views throughout the video. The unit is just over 2,300sf with 2 bedrooms and 1.75 baths.

EXTERIOR

Millennium Tower has a very cool exterior design. It shares the bottom half of the tower with office tenants and from floors 15-20 it is all private residences – this includes the penthouse that sold that year, previously owned by coffee mogul (Howard Schultz). The steel and concrete structure is as luxurious as they come. From the time you step into the lobby, you can see and appreciate why the residences are so exclusive.

We had a great time touring the space. Meeting our friend Rondi and the owner for private tour was a perfect excuse to show you guys around. Millennium Tower will certainly remain a luxury staple of the Downtown Seattle skyline. Unit 1904 is as great example of why so many Seattleites and Americans in general are Downsizing/Rightsizing from massive luxury homes to take in the benefits of Downtown living. Its not just walk-ability but access to the hospital services, grocery stores, museums, art studios and proximity to major freeways and airports.

]]>http://www.urbancondospaces.com/private-tour-of-millennium-tower-unit-1904-listed-at-2800000-video/feed/0Bosa Sells Over 100 Units At One88 During Private Saleshttp://www.urbancondospaces.com/bosa-sells-over-100-units-at-one88-during-private-sales/
http://www.urbancondospaces.com/bosa-sells-over-100-units-at-one88-during-private-sales/#respondThu, 08 Mar 2018 16:58:24 +0000http://www.urbancondospaces.com/?p=19077Bosa Sells Over 100 Units At One88 During Private Sales, Open To Public This Weekend Bosa Development announced today that more than 100 units were pre-sold in its much-anticipated Downtown Bellevue community, One88. The remaining units starting in the mid-$2 million price point will officially open to the public this weekend (Saturday, March 10th). In […]

Bosa Sells Over 100 Units At One88 During Private Sales, Open To Public This Weekend

Bosa Development announced today that more than 100 units were pre-sold in its much-anticipated Downtown Bellevue community, One88. The remaining units starting in the mid-$2 million price point will officially open to the public this weekend (Saturday, March 10th).

In a press release this morning, the development team spoke about the demand for the 143 units and what will become Bellevue’s first condo project delivery in over a decade:

We have been overwhelmed by the positive response to One88 and have recently welcomed nearly 3,000 prospects to tour our Sales Gallery during the preview phase. This is certainly a testament to the demand for urban living in downtown Bellevue,” said Bemi Jauhal, director of sales and marketing for Bosa Development. “Bosa is setting the standard of luxury living in the downtown area. The entire community will evoke the feel of a luxurious hotel through the dramatic and artful design of the amenities and the sophisticated style, form and function of the residences.”

With over 100 units sold, I anticipate that adjustments or (increases in pricing may occur). This has not been announced by the development team, but much like Nexus in Seattle, when a project in this current Seattle condo environment has so much early success, the developer can take their time selling the remaining inventory. It raises the blended average on their cost per square foot proforma and allows the project to take advantage of monthly increases in pricing.

One88 is offering 25,000 square feet of first class amenity space including a 2 story lobby, outdoor terraces on the third and fifth floors, an indoor heated saline pool and spa, fitness center and a children’s playroom.

RESIDENCES

There are 2 designer selected finishes to choose from that include a chef-par kitchen, Ceasarstone counter tops, angular waterfall edge island with vertical grain veneer cabinets. The appliance package includes Gaggenau range, fridge, dishwasher with a Thermador wine refrigerator. The cabinets have undermount LED lighting, Nest control thermostat, USB ports in Master bedroom and kitchen islands and future home automation capabilities. There is also onsite storage for each unit.

Have questions, want more details on the project or a private tour? Drop me a line at jeff@urbancondospaces.com

If you haven’t subscribed yet to our Youtube channel, we would love to have you.

Median Sale Price In The Downtown Seattle Condo Market Rose 23%

The median sales price is up 23% over this time last year. The storyline in the Downtown Seattle Condo Market has’t changed. Limited supply is putting pressure on competing buyers to “bid up” the price of highly coveted units. In fact, the average list to sale price ratio for February was 4.36%. Meaning that the average condo sold in Downtown Seattle is getting 4.3% more than their asking price. We noted last month that Seattle has led the nation in home price increases for 16th months in a row.

The sale of the month has to be this INCREDIBLE unit above Pike Place Market. It is located in the Pike and Virginia building (87 Virginia). I toured the unit when it hit the market – the view is special. The asking price on the unit was $1,395,000 and the unit sold for $1,765,700. There are just 13 units in the building and the last time this unit sold was in 1978.

]]>http://www.urbancondospaces.com/median-sales-price-downtown-seattle-condo-market-rose-23/feed/0Demand For Affordable Seattle Condos Is Insatiablehttp://www.urbancondospaces.com/demand-for-affordable-seattle-condos-is-insatiable/
http://www.urbancondospaces.com/demand-for-affordable-seattle-condos-is-insatiable/#respondWed, 28 Feb 2018 19:06:31 +0000http://www.urbancondospaces.com/?p=19021Ok, I’ll admit. The title of this post is a little dramatic. With that said, if you have been following the real estate market in Downtown Seattle you would know what I’m talking about. A new condo project took reservations this weekend. The project, named KODA is designed to target a affordable price point for buyers. […]

With that said, if you have been following the real estate market in Downtown Seattle you would know what I’m talking about. A new condo project took reservations this weekend. The project, named KODA is designed to target a affordable price point for buyers. According to our source, 95% of the entire project was reserved in the first weekend. Why? I’ll get into more of that below. Bottom line is, there is not enough inventory in Seattle.

What if I told you that New York (Manhattan specifically) had 469 condos for sale under $500,000? That Miami had 403 condos under $500,000. Would you believe me? What if I told you that Seattle, which is one of the best domestic markets in the entire country, had just 1 (one) condo priced under $500,000? Well, its true. I pulled the numbers yesterday for a post on the Seattle real estate market and I must say, I was not surprised.

Here are 10 Specific Reasons People Want To Buy A Seattle Condo:

Traffic Patterns – they continue to get worse. Buyers want first homes, a second home or in a lot of cases an investment property in Seattle.

A tax on foreign investment is driving buyers out of Vancouver BC and into the Seattle Real estate market (Lots of international buying and speculating)

]]>http://www.urbancondospaces.com/demand-for-affordable-seattle-condos-is-insatiable/feed/0Seattle Leads Nation In Home Price Increases For 16 Months In A Rowhttp://www.urbancondospaces.com/seattle-leads-nation-home-prices-increases-16-months-row/
http://www.urbancondospaces.com/seattle-leads-nation-home-prices-increases-16-months-row/#respondWed, 28 Feb 2018 00:18:09 +0000http://www.urbancondospaces.com/?p=19007Seattle Leads Nation In Home Prices For 16 Months In A Row New data out of the Seattle Times on home prices. The Case-Schiller home price index was released today and the Times is reporting that Seattle area leads the nation in home prices for the 16th month in a row. It is the longest […]

Seattle Leads Nation In Home Prices For 16 Months In A Row

New data out of the Seattle Times on home prices. The Case-Schiller home price index was released today and the Times is reporting that Seattle area leads the nation in home prices for the 16th month in a row. It is the longest streak in the nation, only second to the dot-com run in San Francisco.

According to the article:

Nationally, prices are up 6.3 percent, the most in three and a half years and almost five times more than the country’s historical average.

While in Seattle:

The median house price in Seattle just hit a record $757,000, and on the Eastside is hovering at an all-time high of $938,000, according to the Northwest Multiple Listing Service.

Here is a look at the chart for the Median Sales Price in Seattle:

The median sales price in Seattle is up 96% since the low in March of 2012. Take a look at the list of the top 5 major US cities leading the nation in home price growth (compared to a year ago)

1. Seattle +12.7 percent

2. Las Vegas +11.1 percent

3. San Francisco +9.2 percent

4. Los Angeles +7.5 percent

5. Denver, San Diego (tie) +7.4 percent

To add insult to injury, the inventory of homes available for sale are at an 18 year low. All the while, there are more qualified buyers looking to purchase. This is what is causing the widening affordability gap. Just last week we touched on how legislation to encourage and increase more home development never made it to the house floor in Olympia – the legislation was a proposal to modify the Washington Condominium Act.

]]>http://www.urbancondospaces.com/seattle-leads-nation-home-prices-increases-16-months-row/feed/0Changes To Washington Condominium Act Must Wait, Legislation Failshttp://www.urbancondospaces.com/changes-washington-condominium-act-must-wait-legislation-fails/
http://www.urbancondospaces.com/changes-washington-condominium-act-must-wait-legislation-fails/#respondTue, 20 Feb 2018 17:59:17 +0000http://www.urbancondospaces.com/?p=18979Changes To Washington Condominium Act Must Wait, Legislation Fails As reported by the Puget Sound Business Journal last week, the proposed revision to the Washington Condominium Act failed to make it to the House floor by the Wednesday deadline. Let me do my best to explain why this impacts the Seattle Condo Market: Washington Condominium […]

Changes To Washington Condominium Act Must Wait, Legislation Fails

As reported by the Puget Sound Business Journal last week, the proposed revision to the Washington Condominium Act failed to make it to the House floor by the Wednesday deadline. Let me do my best to explain why this impacts the Seattle Condo Market:

The objective was to protect condo purchasers from developers trying to cut costs by using poor building materials & construction practices. It was also created to raise consumer protection standards. Inadvertently it added a tremendous amount of litigation.

Why Is It A Problem?

It limits the amount of non-refundable deposits a buyer has to risk (The amount a buyer must deposit to hold their unit reservation)

It creates enormously high per unit insurance premiums that developers have to plan for

It allows attorneys to prey on unsuspecting board members and makes them feel personally liable for action

It limits new buildings, effectively reducing inventory – which in turn is widening the affordability gap

How Do You Fix It?

Focus on affordability (*make this your primary reason for change)

Put a cap on attorney’s fees

Creating binding arbitration

Enforce a right to repair only

Change HOA liability to give confidence back to the board

Why Is A Revision To The Washington Condominium Act Being Proposed

To introduce legislation to reduce the risk of developing condominiums. The Puget Sound region is facing an overall shortage of housing and the lack of condos is a glaring issue. If we found a way to modify the condominium act, we could re-introduce smaller, mid-rise condo projects that would benefit those looking for more affordable housing options.

My Opinion

A revision to the WCA is absolutely necessary. Th Washington Condominium Act has inadvertently crippled condo construction and affordability is getting worse with each passing month. I think we have an opportunity to address both quality control and more development. The real question is when. Are we running out of time?

I was pleased to see that the PSBJ included our data again in their article:

]]>http://www.urbancondospaces.com/changes-washington-condominium-act-must-wait-legislation-fails/feed/02018 Seattle Economic Update, Infographichttp://www.urbancondospaces.com/2018-seattle-economic-update-infographic/
http://www.urbancondospaces.com/2018-seattle-economic-update-infographic/#respondFri, 16 Feb 2018 23:51:30 +0000http://www.urbancondospaces.com/?p=189622018 Seattle Economic Update, Infographic I attended the 2018 State of Downtown put on by the Downtown Seattle Association this week. If you guys are unfamiliar, the Downtown Seattle Association has a mission of creating a healthy, vibrant Downtown. In 6o years of service to the Downtown core of Seattle, the DSA is an organization […]

2018 Seattle Economic Update, Infographic

I attended the 2018 State of Downtown put on by the Downtown Seattle Association this week. If you guys are unfamiliar, the Downtown Seattle Association has a mission of creating a healthy, vibrant Downtown. In 6o years of service to the Downtown core of Seattle, the DSA is an organization that I love to support. I’m both a member and an advocate.

I always enjoy the State of Downtown event as the DSA releases new data on downtown growth, development activity and other important information that I’ve included in this post. I put together an infographic for you guys to review that will give you a good summary of what was discussed and covered in the State of Downtown 2018. I have other information, graphs and data should you guys want to know more. Just drop me a line jeff@urbancondospaces.com

I’ll pulled together some key facts and stats:

Residents – 22% Increase In Population Since 2010. Also there has been in a 30% increase in jobs over the last 8 years.

Transit – 52,000 transit riders per day into Downtown Seattle. In addition that, by 2019, there will be 5 new street car stations that will open between SLU and the International District.

Completed/Delivered in 2017

3.6M Square Feet of Office

5,723 Residential Units

637 Hotel Rooms

15M or more visitors to Pike Place Market

1M or more Cruise Ship Passengers

$74M Marketfront Expansion Of Pike Place Market

Opened up 75 New Restaurants

In 2018 Seattle has under construction:

2,192 Hotel Rooms Under Construction

3,626 Residential Units Under Construction

2.2M Square Feet of Office Under Construction

In The Works (Upcoming Projects and Deliveries)

$10M for Pedestrian Improvements For Pike/Pine Streets

$688 Million Dollar Waterfront Redevelopment

$1.6 Billion Dollar Expansion and Addition To The Washington State Convention Center

]]>http://www.urbancondospaces.com/2018-seattle-economic-update-infographic/feed/0Year Over Year, Downtown Seattle Condo Sales Down 52%http://www.urbancondospaces.com/year-year-downtown-seattle-condo-sales-52/
http://www.urbancondospaces.com/year-year-downtown-seattle-condo-sales-52/#respondMon, 12 Feb 2018 16:50:41 +0000http://www.urbancondospaces.com/?p=18946Year Over Year, Downtown Seattle Condo Sales Down 52% I just dove into the condo stats for January in Downtown Seattle and there were just 15 sales. At this time last year there were 35 sales – that is a 52% decline! This decline can be attributed to the depleted inventory as more sellers “stay put” […]

Year Over Year, Downtown Seattle Condo Sales Down 52%

I just dove into the condo stats for January in Downtown Seattle and there were just 15 sales. At this time last year there were 35 sales – that is a 52% decline!

This decline can be attributed to the depleted inventory as more sellers “stay put” not willing to test a market that isn’t offering much in terms of an upgrade. It is a compounding problem – Seller gridlock. Downtown Seattle has just 52 units available for sale. That number includes new construction as well.

2017 averaged 48 condo sales per month. So it will be interesting to see how 2018 will end up. With Gridiron selling out soon and Nexus at over 92% pre-sold, we really only have units that “re-sale” to choose from. This could be another frustrating year for Seattle condo buyers. Especially with the affordability gap widening.

A bright spot in this Seattle real estate conundrum is wage expansion for the tech space. Seattle tech-workers are only second to the Bay Area for salaried wages. It is everyone else that I worry about. Especially Seattle’s working class that commute into the city due to a lack of affordable housing. Take a look at these two charts. The first represents the median price for a Seattle condo. The second, represents the number of available units for sale.

]]>http://www.urbancondospaces.com/year-year-downtown-seattle-condo-sales-52/feed/0More Seattle Lofts, Huge Windows and Killer Interiorshttp://www.urbancondospaces.com/more-seattle-lofts-huge-windows-killer-views/
http://www.urbancondospaces.com/more-seattle-lofts-huge-windows-killer-views/#respondFri, 09 Feb 2018 02:28:27 +0000http://www.urbancondospaces.com/?p=18891More Seattle Lofts, Huge Windows and Killer Interiors Just when thought I had covered the cool Seattle Lofts for the week, these two units hit the market. I didn’t want to wait to show you guys so I booked it down to Pioneer Square yesterday afternoon with my camera to give you guys a tour. […]

Oddly, these types of lofts don’t come up all that often and then all of a sudden we have 4 within the last 5-6 days. Even if you are not a loft lover, you would find something to love about both units.

The smaller unit at 606 Post Ave is such a great space. Massive ceilings and oversized windows with tons of natural light flooding into the living room. Exposed brick and a vaulted bedroom give the loft such a unique feel. You’ll see in the video that this unit comes with some flex space as well. We have a client and friend of ours that lives in the building they absolutely love it.

The second unit that I wanted to bring to your attention is at 80 S Jackson. This 1,405sf unit has incredible interiors as well. It is a quintessential NY loft. Wide and spacious floor plan with original floors, oversized windows and tons of natural light.

]]>http://www.urbancondospaces.com/more-seattle-lofts-huge-windows-killer-views/feed/0Picks For The Week, Seattle Condos, Investment Ideas and Morehttp://www.urbancondospaces.com/picks-for-the-week-seattle-condos-investment-ideas-and-more/
http://www.urbancondospaces.com/picks-for-the-week-seattle-condos-investment-ideas-and-more/#respondMon, 05 Feb 2018 19:12:59 +0000http://www.urbancondospaces.com/?p=18881Picks For The Week, Seattle Condos, Investment Ideas and More This week was a busy one. I updated you guys on the potential for a school in Downtown Seattle, I posted an update on the Luxury Seattle condo market, Seattle Public Schools announced their 2019-2020 boundary map changes (see here to view the map) and […]

As I mentioned last weekend, I’m going to try to keep you guys updated more often on cool units that hit the market, interesting storylines and investment ideas. Watch the video I uploaded to our Youtube channel for a tour of two very cool lofts currently on the market (see the video below)

It was a really good week for lofts. The lofts we feature in the video offer something a little different. This loft in Capitol Hill, is a bit more modern with soaring 22 foot ceilings and exposed wood beams. The asking price is $649,000 and the offer review deadline is tomorrow, February 6th at 2pm. The other insanely cool loft is a NY Style turn of the century loft space with fantastic interiors. Located in Pioneer Square, It was built in 1913, just years after the Great Seattle Fire. It offers 2 levels of space, exposed wood beam ceilings and double doors that lead you to your own private patio. I personally love the location, especially with the viaduct going down soon. The exposed brick in the unit will get you loft lovers excited. If any of you guys want to schedule a tour, just let me know jeff@urbancondospaces.com

]]>http://www.urbancondospaces.com/picks-for-the-week-seattle-condos-investment-ideas-and-more/feed/0Buying A Townhome, An Alternative To Condo Livinghttp://www.urbancondospaces.com/buying-a-townhome-an-alternative-to-condo-living/
http://www.urbancondospaces.com/buying-a-townhome-an-alternative-to-condo-living/#respondWed, 31 Jan 2018 23:13:37 +0000http://www.urbancondospaces.com/?p=18871﻿﻿ Buying A Townhome An Alternative To Condo Living Buying a Townhome (often referred to a townhouse or skinny) has always been a popular option for many different types of buyers. It is a good option for a lot of you that enjoy the luxury and convenience of a condo. There is very little yard […]

Buying a Townhome (often referred to a townhouse or skinny) has always been a popular option for many different types of buyers. It is a good option for a lot of you that enjoy the luxury and convenience of a condo. There is very little yard to maintain, no HOA dues and it can offer a little more space than your typical condo. Townhomes often come with a garage, they are typically 3 bedrooms and at least 2 baths and in some cases you can find units with killer rooftop decks. Take a look at our list of pros and cons before deciding if a Townhome is right for you.

Pros

Vertical Space
Often cheaper than a traditional single family home
Drought Free Landscaping (No lawn to mow)
Typically Larger Than A Condo
Garage Parking
Mini-Splits (Air Conditioning)
Rooftop Deck

Cons

Stairs | Townhomes often have at least 2 full flights of stairs
Ordinary (on occasion) If you don’t pay attention to the design you can often end up with a home that looks like many others in the city
Blinds/Window Coverings | Most developers will never add this to the unit. Be prepared, they can be expensive
Sewer Capacity Charge: In Seattle, we have what is called a SCC. This is passed on to a buyer and you should budget a minimum of $50-$75 per month
Not all townhomes are walkable to popular areas of the city. Pay close attention to the location

Why We Believe In Townhomes

Much like other areas of the country, Seattle is dealing with how to add more urban density. We believe that Townhome product will be popular for years to come. It is often much less than buying a single family residence, it gives you a little more space than a condo would and townhomes are CHIC! You can often find townhomes that are designed really well with contemporary interiors, steel, concrete and wood-clad exteriors and if you look really closely, you can find killer units that have massive roof-top decks.

]]>http://www.urbancondospaces.com/buying-a-townhome-an-alternative-to-condo-living/feed/0Luxury Seattle Condo Market Off To A Fast Start In 2018http://www.urbancondospaces.com/luxury-seattle-condo-market-off-fast-start/
http://www.urbancondospaces.com/luxury-seattle-condo-market-off-fast-start/#respondTue, 30 Jan 2018 23:42:19 +0000http://www.urbancondospaces.com/?p=18869Luxury Seattle Condo Market Off To A Fast Start In 2018 Luxury Seattle condo sales are off to a very fast start in 2018. Since the start of the year there have been 4 sales over $1m with 2 those Downtown Seattle condos selling above $2.2M. In addition to that there are another 10 sales […]

Luxury Seattle Condo Market Off To A Fast Start In 2018

Luxury Seattle condo sales are off to a very fast start in 2018. Since the start of the year there have been 4 sales over $1m with 2 those Downtown Seattle condos selling above $2.2M. In addition to that there are another 10 sales under contract. 3 of those units under contract were listed at $2.5M or more.

This is just another reminder of how the Seattle condo market is in favor with wealthy US citizens and Internationals as well. In 2017, there were 100 condos sales over $1m in just the downtown Seattle core. The average sales price per unit was $1,654,978 with most the expensive closing at Millennium Tower for $7,500,000.

Take a look at the charts below showing the steady increase in the cost per square foot. This is a very important number to pay attention to. The first chart shows the rise on a per foot basis for units listed over a $1m. The second chart looks at the entire market – up 57% in 3 years. The reason this number is important is because Developers will start to consider building new projects once this number gets closer to $1,100-$1,200 per foot. Our market needs more new construction to fill the supply gap. Our lack of inventory and the steady demand for good quality concrete and steel buildings should get the attention of some of these developers soon. Especially now that there are discussions in Olympia on revising the Washington State Condominium Act.

]]>http://www.urbancondospaces.com/luxury-seattle-condo-market-off-fast-start/feed/0New School In Downtown Seattle, Downtown Seattle Updatehttp://www.urbancondospaces.com/new-school-downtown-seattle-downtown-seattle-update/
http://www.urbancondospaces.com/new-school-downtown-seattle-downtown-seattle-update/#respondMon, 29 Jan 2018 18:21:02 +0000http://www.urbancondospaces.com/?p=18856New School In Downtown Seattle? Downtown Seattle Update Is Downtown Seattle going to get a new school? The short answer is yes – more on this later in the post. Discussion On Friday, I attended the Downtown Seattle Association President’s Roundtable at their headquarters in the Retail district of Downtown Seattle. I wanted to share […]

New School In Downtown Seattle? Downtown Seattle Update

Is Downtown Seattle going to get a new school? The short answer is yes – more on this later in the post.

Discussion

On Friday, I attended the Downtown Seattle Association President’s Roundtable at their headquarters in the Retail district of Downtown Seattle. I wanted to share a bit more about what we discussed and give you guys some things to look forward to in the coming months/years.

It started with some networking, and once we sat down it was evident that the one hour discussion would thoughtful and informative. The attendees were both public and private. commercial real estate, a social media firm, a principal engineer, technology founder, and many other sectors represented.

The president of the Downtown Seattle Association, Jon Scholes opened up the discussion with a recap on the DSA’s history, the areas of focus and some future projects to look forward to. 3 principal issues the DSA is focused on:

Traffic patterns and transportation for their employees
Competing to keep employees
Affordability for housing and the current state of housing inventory

So let me recap what I think was very exciting. First and foremost, Downtown Seattle will be getting a school soon. Many of you have seen the stories around the redevelopment of the Memorial Stadium. In my opinion, it was obvious that the DSA wants schools in the Downtown core. There was an abundance of enthusiasm that getting a school was not just possible, but probable. Some details were left out of the discuss for confidentiality but it was obvious that a plan was in the works.

Downtown Seattle School

I think getting a school makes sense for a ton of reasons. Look at what the data shows us:

26% of Downtown Residents Are Families

Interesting fact:

Nearly 3,400 children live downtown, an increase of 46 percent from 2010 to 2017 (school-aged children increased by 58 percent) ) (Source DSA)

Employers Like Seattle

One other exciting take-away from the roundtable discussion is that employers, both big and small, want to offer Seattle as a destination for their employees. This isn’t breaking news, but it is always good to confirm with other people active in the downtown community. There was some great feedback from a commercial real estate broker about the effort being made by major corporations to secure office space in the Downtown core.

I put together a slide deck for a recent presentation that shows how abundant the Seattle job market is. Take a look at the list of companies in the Downtown Seattle core:

In summary, great meeting, exciting things to come for Downtown Seattle and we are proud to both a member of the Downtown Seattle Association as well as an active participant.

]]>http://www.urbancondospaces.com/new-school-downtown-seattle-downtown-seattle-update/feed/0Picks For The Week, Seattle Condos, Investment Ideas and Morehttp://www.urbancondospaces.com/picks-for-the-week-condos-investment-ideas-and-more/
http://www.urbancondospaces.com/picks-for-the-week-condos-investment-ideas-and-more/#respondSat, 27 Jan 2018 22:07:06 +0000http://www.urbancondospaces.com/?p=18839Picks For The Week, Seattle Condos, Investment Ideas and More Another goal I committed to this year was to share more ideas and opportunities for the readers of the UrbanCondoSpaces blog. I’ll do my best to update you guys 3-4 times a month on interesting listings, condos, investment ideas and more. This week I’m seeing […]

Picks For The Week, Seattle Condos, Investment Ideas and More

Another goal I committed to this year was to share more ideas and opportunities for the readers of the UrbanCondoSpaces blog. I’ll do my best to update you guys 3-4 times a month on interesting listings, condos, investment ideas and more.

Another listing I would take a look at is unit #314 at Mosler Lofts in Belltown. Mosler is a killer building in the North end of Belltown. When the building was built in 2007 it won a National architectural award for its design. The interiors are great – you’ll find concrete ceilings, exposed HVAC and contemporary finishes that still look great 10 years later. You might recall our sale in the building last fall – Unit 800 (see our youtube video here)

This 2 bedroom at the Concord is also worth a look. It has a great view and it is rare to have a 2 bedroom with west facing views in a concrete and steel building for less than $1,000,000 in Seattle.

Hope you guys find everything that you are looking for this weekend. If you need help locating a property, getting our free analysis or writing an offer, we are always happy to help. Just email me at jeff@urbancondospaces.com